Contact: Joe Koff
Muzak LLC (704) 926-1000
FOR IMMEDIATE RELEASE
Muzak LLC Announces New Chief Financial Officer
Charlotte, NC (August 22, 2000) - Muzak LLC ("Muzak") announced today that Mr.
Stephen Villa has been named Chief Financial Officer. Mr. Villa brings a variety
of experience to Muzak's executive ranks. Since 1998, Mr. Villa has served as
Chief Financial Officer and Treasurer of Frisby Technologies, Inc., a publicly
traded company providing thermal management products. At Frisby, he was the main
interface with the investment community and played a key role in strategic
decisions involving the Company's operations, capitalization and financing. He
was also responsible for developing the corporate infrastructure and information
systems to facilitate rapid sales and employee growth and represented the
Company in its initial public stock offering. Prior to joining Frisby, Mr. Villa
was the Controller of Harman Consumer Group ("HCG"), the manufacturer and
distributor of Harman Kardon electronic products. At HCG, Mr. Villa was
responsible for strengthening the policies, procedures and financial systems of
the Company which was experiencing significant worldwide growth. Mr. Villa also
brings over ten years experience from PriceWaterhouseCoopers LLC ("PWC"), where
he most recently served as a senior manager in their New York and Paris offices.
Mr. Villa's experience while at PWC included financial consulting related to
both equity and debt securities offerings. In addition, he served as a U.S. GAAP
and SEC expert for small European technology companies planning to access the
U.S. capital markets.
"We are extremely excited to have Steve join our management team. He brings a
depth and breadth of experience that will add immediate value to Muzak" stated
Joe Koff, President of Muzak.
Steve will join Muzak on September 5, 2000.
Through Audio Architecture and Audio Marketing, the art of capturing the
emotional power of music and putting it to work for clients seeking to enhance
their brand image, Muzak serves approximately 300,000 customer locations in the
United States and 15 foreign countries. More than 100 million people hear the
Company's products each day. The Company delivers music, videos, messaging and
sound system design through more than 200 sales and service locations.
